Summary

In writing this textbook, Mankiw has tried to put himself in the position of someone seeing economics for the first time. The author's conversational writing style is superb for presenting the politics and science of economic theories to tomorrow's decision-makers. Because Mankiw wrote it for the students, the book stands out among all other principle texts by intriguing students to apply an economic way of thinking in their daily lives. Receiving such a praise as perhaps the best ever textbook in economic principles, it's no wonder Mankiw's prize project has quickly become one of the most successful books ever to be published in the college marketplace.

Author Bio

N. Gregory Mankiw is Professor of Economics at Harvard University. He has taught macroeconomics, microeconomics, statistics, and principles of economics. Professor Mankiw is a prolific writer and a regular participant in academic and policy debates. His research includes work on price adjustment, consumer behavior, financial markets, monetary and fiscal policy, and economic growth. His published articles have appeared in academic journals such as the AMERICAN ECONOMIC REVIEW, JOURNAL OF POLITICAL ECONOMY, and QUARTERLY JOURNAL OF ECONOMICS and in more widely accessible forums including THE NEW YORK TIMES, THE WASHINGTON POST, THE WALL STREET JOURNAL, and FORTUNE. In addition to his teaching, research, and writing, Professor Mankiw has been a research associate of the National Bureau of Economic Research, an adviser to the Federal Reserve Bank of Boston and the Congressional Budget Office, and a member of the ETS test development committee for the advanced placement exam in economics. From 2003 to 2005, he served as chairman of the President's Council of Economic Advisers. In addition, he maintains a very popular blog for students of economics at http://www.gregmankiw.blogspot.com.

Table of Contents

Part 1: INTRODUCTION. 1. Ten Principles of Economics. 2. Thinking Like an Economist. Appendix: Graphing: A Brief Review. 3. Interdependence and the Gains from Trade. Part 2: SUPPLY AND DEMAND I: HOW MARKETS WORK. 4. The Market Forces of Supply and Demand. 5. Elasticity and Its Application. 6. Supply, Demand, and Government Policies. Part 3: SUPPLY AND DEMAND II: MARKETS AND WELFARE. 7. Consumers, Producers, and the Efficiency of Markets. 8. Application: The Costs of Taxation. 9. Application: International Trade. Part 4: THE ECONOMICS OF PUBLIC SECTOR. 10. Externalities. 11. Public Goods and Common Resources. 12. The Design of the Tax System. Part 5: FIRM BEHAVIOR AND THE ORGANIZATION OF INDUSTRY. 13. The Costs of Production. 14. Firms in Competitive Markets. 15. Monopoly. 16. Monopolistic Competition. 17. Oligopoly. Part 6: THE ECONOMICS OF LABOR MARKETS. 18. The Markets for the Factors of Production. 19. Earnings and Discrimination. 20. Income Inequality and Poverty. Part 7: TOPICS FOR FURTHER STUDY. 21. The Theory of Consumer Choice. 22. Frontiers in Microeconomics. Part 8: THE DATA OF MACROECONOMICS. 23. Measuring a Nation's Income. 24. Measuring the Cost of Living. Part 9: THE REAL ECONOMY IN THE LONG RUN. 25. Production and Growth. 26. Saving, Investment, and the Financial System. 27. The Basic Tools of Finance. 28. Unemployment and Its Natural Rate. Part 10: MONEY AND PRICES IN THE LONG RUN. 29. The Monetary System. 30. Money Growth and Inflation. Part 11: THE MACROECONOMICS OF OPEN ECONOMIES. 31. Open-Economy Macroeconomics: Basic Concepts. 32. A Macroeconomic Theory of the Open Economy. Part 12: SHORT-RUN ECONOMIC FLUCTUATIONS. 33. Aggregate Demand and Aggregate Supply. 34. The Influence of Monetary and Fiscal Policy on Aggregate Demand. 35. The Short-Run Tradeoff between Inflation and Unemployment. Part 13: FINAL THOUGHTS. 36. Five Debates over Macroeconomic Policy.

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Suitable Devices - Hardware known to be compatible with this book. Note: Reader software still needs to be installed.

In writing this textbook, Mankiw has tried to put himself in the position of someone seeing economics for the first time. The author's conversational writing style is superb for presenting the politics and science of economic theories to tomorrow's decision-makers. Because Mankiw wrote it for the students, the book stands out among all other principle texts by intriguing students to apply an economic way of thinking in their daily lives. Receiving such a praise as perhaps the best ever textbook in economic principles, it's no wonder Mankiw's prize project has quickly become one of the most successful books ever to be published in the college marketplace.

N. Gregory Mankiw is Professor of Economics at Harvard University. He has taught macroeconomics, microeconomics, statistics, and principles of economics. Professor Mankiw is a prolific writer and a regular participant in academic and policy debates. His research includes work on price adjustment, consumer behavior, financial markets, monetary and fiscal policy, and economic growth. His published articles have appeared in academic journals such as the AMERICAN ECONOMIC REVIEW, JOURNAL OF POLITICAL ECONOMY, and QUARTERLY JOURNAL OF ECONOMICS and in more widely accessible forums including THE NEW YORK TIMES, THE WASHINGTON POST, THE WALL STREET JOURNAL, and FORTUNE. In addition to his teaching, research, and writing, Professor Mankiw has been a research associate of the National Bureau of Economic Research, an adviser to the Federal Reserve Bank of Boston and the Congressional Budget Office, and a member of the ETS test development committee for the advanced placement exam in economics. From 2003 to 2005, he served as chairman of the President's Council of Economic Advisers. In addition, he maintains a very popular blog for students of economics at http://www.gregmankiw.blogspot.com.

Part 1: INTRODUCTION. 1. Ten Principles of Economics. 2. Thinking Like an Economist. Appendix: Graphing: A Brief Review. 3. Interdependence and the Gains from Trade. Part 2: SUPPLY AND DEMAND I: HOW MARKETS WORK. 4. The Market Forces of Supply and Demand. 5. Elasticity and Its Application. 6. Supply, Demand, and Government Policies. Part 3: SUPPLY AND DEMAND II: MARKETS AND WELFARE. 7. Consumers, Producers, and the Efficiency of Markets. 8. Application: The Costs of Taxation. 9. Application: International Trade. Part 4: THE ECONOMICS OF PUBLIC SECTOR. 10. Externalities. 11. Public Goods and Common Resources. 12. The Design of the Tax System. Part 5: FIRM BEHAVIOR AND THE ORGANIZATION OF INDUSTRY. 13. The Costs of Production. 14. Firms in Competitive Markets. 15. Monopoly. 16. Monopolistic Competition. 17. Oligopoly. Part 6: THE ECONOMICS OF LABOR MARKETS. 18. The Markets for the Factors of Production. 19. Earnings and Discrimination. 20. Income Inequality and Poverty. Part 7: TOPICS FOR FURTHER STUDY. 21. The Theory of Consumer Choice. 22. Frontiers in Microeconomics. Part 8: THE DATA OF MACROECONOMICS. 23. Measuring a Nation's Income. 24. Measuring the Cost of Living. Part 9: THE REAL ECONOMY IN THE LONG RUN. 25. Production and Growth. 26. Saving, Investment, and the Financial System. 27. The Basic Tools of Finance. 28. Unemployment and Its Natural Rate. Part 10: MONEY AND PRICES IN THE LONG RUN. 29. The Monetary System. 30. Money Growth and Inflation. Part 11: THE MACROECONOMICS OF OPEN ECONOMIES. 31. Open-Economy Macroeconomics: Basic Concepts. 32. A Macroeconomic Theory of the Open Economy. Part 12: SHORT-RUN ECONOMIC FLUCTUATIONS. 33. Aggregate Demand and Aggregate Supply. 34. The Influence of Monetary and Fiscal Policy on Aggregate Demand. 35. The Short-Run Tradeoff between Inflation and Unemployment. Part 13: FINAL THOUGHTS. 36. Five Debates over Macroeconomic Policy.

Be sure to check the format of the eTextbook/eChapter you purchase to know which reader you will need. After purchasing your eTextbook or eChapter, you will be emailed instructions on where and how to download your free reader.

Download Requirements:

Due to the size of eTextbooks, a high-speed Internet connection (cable modem, DSL, LAN) is required for download stability and speed. Your connection can be wired or wireless.

Being online is not required for reading an eTextbook after successfully downloading it. You must only be connected to the Internet during the download process.

Copying - Books that cannot be copied will show "Not Allowed." Otherwise, this will detail the number of times it can be copied, or "Allowed with no limits."

Printing - Books that cannot be printed will show "Not Allowed." Otherwise, this will detail the number of times it can be printed, or "Allowed with no limits."

Expires - Books that have no expiration (the date upon which you will no longer be able to access your eBook) will read "No Expiration." Otherwise it will state the number of days from activation (the first time you actually read it).

Reading Aloud - Books enabled with the "text-to-speech" feature so that they can be read aloud will show "Allowed."

Sharing - Books that cannot be shared with other computers will show "Not Allowed."

Min. Software Version - This is the minimum software version needed to read this book.

Suitable Devices - Hardware known to be compatible with this book. Note: Reader software still needs to be installed.

Summary

In writing this textbook, Mankiw has tried to put himself in the position of someone seeing economics for the first time. The author's conversational writing style is superb for presenting the politics and science of economic theories to tomorrow's decision-makers. Because Mankiw wrote it for the students, the book stands out among all other principle texts by intriguing students to apply an economic way of thinking in their daily lives. Receiving such a praise as perhaps the best ever textbook in economic principles, it's no wonder Mankiw's prize project has quickly become one of the most successful books ever to be published in the college marketplace.

Author Bio

N. Gregory Mankiw is Professor of Economics at Harvard University. He has taught macroeconomics, microeconomics, statistics, and principles of economics. Professor Mankiw is a prolific writer and a regular participant in academic and policy debates. His research includes work on price adjustment, consumer behavior, financial markets, monetary and fiscal policy, and economic growth. His published articles have appeared in academic journals such as the AMERICAN ECONOMIC REVIEW, JOURNAL OF POLITICAL ECONOMY, and QUARTERLY JOURNAL OF ECONOMICS and in more widely accessible forums including THE NEW YORK TIMES, THE WASHINGTON POST, THE WALL STREET JOURNAL, and FORTUNE. In addition to his teaching, research, and writing, Professor Mankiw has been a research associate of the National Bureau of Economic Research, an adviser to the Federal Reserve Bank of Boston and the Congressional Budget Office, and a member of the ETS test development committee for the advanced placement exam in economics. From 2003 to 2005, he served as chairman of the President's Council of Economic Advisers. In addition, he maintains a very popular blog for students of economics at http://www.gregmankiw.blogspot.com.

Table of Contents

Table of Contents

Part 1: INTRODUCTION. 1. Ten Principles of Economics. 2. Thinking Like an Economist. Appendix: Graphing: A Brief Review. 3. Interdependence and the Gains from Trade. Part 2: SUPPLY AND DEMAND I: HOW MARKETS WORK. 4. The Market Forces of Supply and Demand. 5. Elasticity and Its Application. 6. Supply, Demand, and Government Policies. Part 3: SUPPLY AND DEMAND II: MARKETS AND WELFARE. 7. Consumers, Producers, and the Efficiency of Markets. 8. Application: The Costs of Taxation. 9. Application: International Trade. Part 4: THE ECONOMICS OF PUBLIC SECTOR. 10. Externalities. 11. Public Goods and Common Resources. 12. The Design of the Tax System. Part 5: FIRM BEHAVIOR AND THE ORGANIZATION OF INDUSTRY. 13. The Costs of Production. 14. Firms in Competitive Markets. 15. Monopoly. 16. Monopolistic Competition. 17. Oligopoly. Part 6: THE ECONOMICS OF LABOR MARKETS. 18. The Markets for the Factors of Production. 19. Earnings and Discrimination. 20. Income Inequality and Poverty. Part 7: TOPICS FOR FURTHER STUDY. 21. The Theory of Consumer Choice. 22. Frontiers in Microeconomics. Part 8: THE DATA OF MACROECONOMICS. 23. Measuring a Nation's Income. 24. Measuring the Cost of Living. Part 9: THE REAL ECONOMY IN THE LONG RUN. 25. Production and Growth. 26. Saving, Investment, and the Financial System. 27. The Basic Tools of Finance. 28. Unemployment and Its Natural Rate. Part 10: MONEY AND PRICES IN THE LONG RUN. 29. The Monetary System. 30. Money Growth and Inflation. Part 11: THE MACROECONOMICS OF OPEN ECONOMIES. 31. Open-Economy Macroeconomics: Basic Concepts. 32. A Macroeconomic Theory of the Open Economy. Part 12: SHORT-RUN ECONOMIC FLUCTUATIONS. 33. Aggregate Demand and Aggregate Supply. 34. The Influence of Monetary and Fiscal Policy on Aggregate Demand. 35. The Short-Run Tradeoff between Inflation and Unemployment. Part 13: FINAL THOUGHTS. 36. Five Debates over Macroeconomic Policy.

Digital Rights

eBook Requirements

VitalSource Bookshelf ReaderMinimum System Requirements:

Windows 7/8, or Mac OS X 10.6 or above

Software Requirements:

eTextbooks and eChapters can be viewed by using the free reader listed below.

Be sure to check the format of the eTextbook/eChapter you purchase to know which reader you will need. After purchasing your eTextbook or eChapter, you will be emailed instructions on where and how to download your free reader.

Download Requirements:

Due to the size of eTextbooks, a high-speed Internet connection (cable modem, DSL, LAN) is required for download stability and speed. Your connection can be wired or wireless.

Being online is not required for reading an eTextbook after successfully downloading it. You must only be connected to the Internet during the download process.

Copying - Books that cannot be copied will show "Not Allowed." Otherwise, this will detail the number of times it can be copied, or "Allowed with no limits."

Printing - Books that cannot be printed will show "Not Allowed." Otherwise, this will detail the number of times it can be printed, or "Allowed with no limits."

Expires - Books that have no expiration (the date upon which you will no longer be able to access your eBook) will read "No Expiration." Otherwise it will state the number of days from activation (the first time you actually read it).

Reading Aloud - Books enabled with the "text-to-speech" feature so that they can be read aloud will show "Allowed."

Sharing - Books that cannot be shared with other computers will show "Not Allowed."

Min. Software Version - This is the minimum software version needed to read this book.

Suitable Devices - Hardware known to be compatible with this book. Note: Reader software still needs to be installed.